Interest rates

The Fed held interest rates steady at its July policy meeting

US Fed chair Kevin Warsh is slated to speak on Aug 28 at the event

But he refrains from giving explicit signals on whether the central bank would meet expectations of a September hike

The move is in line with market expectations for a third consecutive tightening of policy

The central bank last raised rates at consecutive meetings in early 2023

The country’s sluggish productivity for over a decade has lowered the economy’s potential growth rate

Its monetary policy committee votes unanimously to maintain the one-day repurchase rate at 1%

Monthly CPI rises 1% from June, exceeding forecasts of a 0.8% increase

The current policy rate, in the 3.5% to 3.75% range, has been on hold since December